The correct answer is:
[tex]y=1500(0.937)^t[/tex]
Explanation:
An exponential function is of the form
[tex]y=a\times b^x[/tex], where a is the initial population, b is 1 plus the amount of yearly change, and x is the number of years.
For our problem, a, the initial population, is 1500.
The yearly change is 6.3%; 6.3% = 6.3/100 = 0.063. Since it is decreasing, this is negative; 1+(-0.063) = 0.937.
We use t as the number of years.
This gives us
[tex]y=1500(0.937)^t[/tex]
